A year later it looks like CVS has been doing just that: The Aetna acquisition has provided it with more extensive consumer health data that it can use to develop new services and open retail health clinics nationwide. For instance, CVS Caremark manages prescriptions for over 75 million Americans.
The company already operates in many parts of the healthcare industry and has a retail presence of over 10,000 locations across the country. Its widespread access to consumers is unmatched: ApproximatelyIn addition to its CVS Pharmacy stores, CVS operates over 1,000 MinuteClinics—the fastest-growing provider of retail medical clinics across the country.
CVS also announced earlier this year that it plans to open 1,500 HealthHubs, which will offer more facilities and staff than the MinuteClinics, by the end of 2021. “People were very receptive, and it drove traffic for the rest of the store,” points out John Maloney, CEO of M&R Capital Management. He predicts that CVS will continue to gain market share as the company thins out the retail side of its business and dedicates resources instead to health hubs and minute clinics.Maloney is bullish on the stock’s prospects in the long term, thanks to CVS’ positioning at the forefront of a widespread shift to retail healthcare.
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